Cedar Falls' HowFactory takes home big prize at EntreFest

Trace Steffen and Kenny Stevenson, co-founders of HowFactory, won $10,000 in the final judging of the Dream Big, Grow Here competition.

Trace Steffen, co-founder of HowFactory, chats with Ellen Walsh-Rosmann of Farmtable Delivery following the final judging for the Dream Big, Grow Here competition at hotelVetro on Thursday, May 21, 2015.(Photo: David Scrivner / Iowa City Press)

Those original competitors were whittled down to 30 finalists who pitched for the chance to win $5,000 in each of their sections Thursday. They included AgriSync from West Des Moines, Fresh Mediterranean Express from Waukee, UpCraft Club from Des Moines, FarmTable Delivery from Harlan, K2 Medical Alerts from Muscatine and HowFactory from Cedar Falls.

HowFactory, which has created a way for manufacturers to manage training materials digitally, won the $10,000 prize and the competition's People's Choice Award.

Here's some more of what happened Thursday:

Bringing innovation to nonprofits

Beer and food — or rather, how to use beer to support a good cause — was a main draw for EntreFest attendees Thursday.

Jacquie Berglund presented the story of Finnegans, the beer maker she founded that gives all of its profit to local food pantries and efforts to help fight hunger. Berglund's journey, she said, came with multiple run-ins with "the itchies," or the feeling that she needed to do something different.

She also said she started a beer company without any prior industry knowledge, but she continued asking questions to get better.

"I surround myself with really smart people. I ask a lot of questions, I was always learning," Berglund said.

If entrepreneurs want to follow her path, Berglund said they need to know how they'll fund their nonprofits. Finnegans, she said, has two structures: a for-profit side that pays its bills first and then funnels money into a related 501(c)3 organization.

"I think nonprofits' biggest issue is the shrinking financing and they are dependent (on those sources). Coming up with revenue-generating ideas for nonprofits is the next wave of the future."

Berglund also said entrepreneurs can't expect to have work-life balance, especially if they are passionate about something.

"Burnout is obviously very important to keep an eye on that, but I think those of us that are really following our passions, you can't not do that work. … Just mind the burnouts and have a close network of people that will call you on it."

Pappajohn wins 'Lifetime Impact' award

While most of EntreFest is centered around building the next wave of Iowa's entrepreneurial infrastructure, organizers took time Thursday to honor one of the state's most well-known investors.

EntreFest organizers honored John Pappajohn with a "Lifetime Impact Award" Thursday morning, the first of its kind for EntreFest.

Organizers gave the award to Pappajohn, 86, for his involvement growing Iowa's startup and entrepreneur community, they said. That includes establishing entrepreneur training centers around Iowa, such as those at each of Iowa's three public universities.

Buy Photo

(Photo: Matthew Patane/The Register)

Advice of the day

Speakers at EntreFest have been offering advice to the event's attendees, many of whom are looking to start or improve their business. Here are some snippets from Thursday's talks:

Forget your ego: "I think as an entrepreneur, we have things we're really good at and things we're really not good at. Put the ego in the pocket and go 'OK, I know where my good things are and who do I know that I really trust that can help me figure this (other stuff) out.' " — Jacquie Berglund

Entrepreneurs need energy: "I want all the entrepreneurs to know: There is a price to pay (for success). You have to get up early, you have to work harder, you have to be smarter, you have to do all those kinds of things that make you successful." — John Pappajohn

You can't do it alone: "If you don't surround yourself with good people and you don't care about mentoring others, it will be all about you, and your ability to be successful will be less." — Bruce Rastetter